{"id":1473,"date":"2026-02-27T21:09:15","date_gmt":"2026-02-27T18:09:15","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1473"},"modified":"2026-02-27T22:40:26","modified_gmt":"2026-02-27T19:40:26","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-trhol-bilanco-analizi-2025-12-tera-finansal-yatirimlar-holding","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1473","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 #TRHOL Bilan\u00e7o Analizi 2025\/12 | Tera Finansal Yat\u0131r\u0131mlar Holding"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/x_g7FRzzWv4?si=IpJbKlQCnCE1mZbL\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>249 \u00c7al\u0131\u015fandan Sadece 1 Ki\u015fiye: Bir Holdingin Radikal Finansal Mutasyonu<\/h1>\n<p>Ekonomi d\u00fcnyas\u0131nda \u015firketlerin isim de\u011fi\u015ftirmesi, genellikle bir imaj tazeleme \u00e7abas\u0131 olarak g\u00f6r\u00fcl\u00fcr. Ancak Tera Finansal Yat\u0131r\u0131mlar Holding\u2019in (eski ad\u0131yla Dagi Yat\u0131r\u0131m Holding) 31 Aral\u0131k 2025 tarihli ba\u011f\u0131ms\u0131z denetim raporu, s\u0131radan bir tabela de\u011fi\u015fikli\u011finin \u00e7ok \u00f6tesinde, bir kurumsal yap\u0131n\u0131n nas\u0131l tamamen &#8220;mutasyona&#8221; u\u011frayabilece\u011fini kan\u0131tl\u0131yor. Bu rapor, holdingin sadece sekt\u00f6r de\u011fi\u015ftirmekle kalmay\u0131p, operasyonel ruhunu ve raporlama disiplinini \u2014\u00f6zellikle TFRS 10 uyar\u0131nca solo finansal tablo haz\u0131rlama y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcne ge\u00e7i\u015fiyle\u2014 nas\u0131l ba\u015ftan a\u015fa\u011f\u0131 kurgulad\u0131\u011f\u0131n\u0131n hikayesidir.<\/p>\n<h2>249&#8217;dan Sadece 1&#8217;e: &#8220;Yal\u0131n Y\u00f6netim&#8221;de U\u00e7 Nokta<\/h2>\n<p>Holdingin 2025 y\u0131l\u0131 raporundaki en \u00e7arp\u0131c\u0131 veri, operasyonel kadronun neredeyse tamamen tasfiye edilerek yerini stratejik bir &#8220;karar merkezine&#8221; b\u0131rakmas\u0131d\u0131r. 2024 sonunda y\u00fczlerce ki\u015fiye istihdam sa\u011flayan yap\u0131, bug\u00fcn sadece sembolik bir mevcudiyetle temsil ediliyor.<\/p>\n<p>&#8220;31 Aral\u0131k 2025 tarihi itibar\u0131yla \u00e7al\u0131\u015fan say\u0131s\u0131 1 ki\u015fidir. (31 Aral\u0131k 2024: 249 ki\u015fi).&#8221;<\/p>\n<p>Bu radikal k\u00fc\u00e7\u00fclme, asl\u0131nda operasyonel bir daralmadan ziyade holdingin &#8220;yal\u0131n y\u00f6netim&#8221; modelini u\u00e7 noktaya ta\u015f\u0131d\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Muhtemelen \u00fcst d\u00fczey bir y\u00f6netici veya imza yetkilisinden ibaret olan bu tek ki\u015filik kadro, holdingin art\u0131k emek yo\u011fun tekstil i\u015flerinden s\u0131yr\u0131l\u0131p, sadece milyarlarca liral\u0131k finansal i\u015ftirakleri y\u00f6neten stratejik bir ak\u0131l merkezine d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc tescilliyor.<\/p>\n<h2>TMS 29 ve Rakamlar\u0131n Ger\u00e7ek Y\u00fcz\u00fc: Enflasyon Muhasebesi<\/h2>\n<p>2025 y\u0131l\u0131 raporunu bir analist g\u00f6z\u00fcyle kritik k\u0131lan en \u00f6nemli teknik detay, &#8220;TMS 29 Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131n\u0131n uygulanmas\u0131d\u0131r. Ba\u011f\u0131ms\u0131z denet\u00e7i taraf\u0131ndan &#8220;Kilit Denetim Konusu&#8221; olarak se\u00e7ilen bu s\u00fcre\u00e7te, t\u00fcm rakamlar T\u00fcrkiye T\u00fcketici Fiyat Endeksi (T\u00dcFE) kullan\u0131larak 31 Aral\u0131k 2025 sat\u0131n alma g\u00fcc\u00fc cinsinden yeniden ifade edilmi\u015ftir.<\/p>\n<p>Analitik bir perspektifle bak\u0131ld\u0131\u011f\u0131nda, 2023 y\u0131l\u0131nda 1.859,38 olan endeksin 2025 sonunda 3.513,87 seviyesine (d\u00fczeltme katsay\u0131s\u0131 1,000) ula\u015fmas\u0131, parasal olmayan hesaplar\u0131n belirlenmesinde hassas bir denetim prosed\u00fcr\u00fcn\u00fc zorunlu k\u0131lm\u0131\u015ft\u0131r. Art\u0131k kar\u015f\u0131m\u0131zda nominal k\u00e2rlar de\u011fil, enflasyonun a\u015f\u0131nd\u0131r\u0131c\u0131 etkisinden ar\u0131nd\u0131r\u0131lm\u0131\u015f ger\u00e7ek bir finansal tablo bulunmaktad\u0131r.<\/p>\n<h2>Tekstilden Finans\u0131n Kalbine: Stratejik Pivot<\/h2>\n<p>Holding, Dagi Yat\u0131r\u0131m Holding unvan\u0131n\u0131 geride b\u0131rak\u0131p Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e. olarak yoluna devam ederken, varl\u0131k portf\u00f6y\u00fcn\u00fc de radikal bir \u015fekilde yeniledi. \u0130\u015ftiraki Eros Tekstil\u2019in paylar\u0131n\u0131n tamam\u0131n\u0131n sat\u0131lmas\u0131, geleneksel sekt\u00f6rlerden \u00e7\u0131k\u0131\u015f\u0131n en net ad\u0131m\u0131yd\u0131.<\/p>\n<p>Bu \u00e7\u0131k\u0131\u015ftan elde edilen kaynak, finansal g\u00fcvenilirlik a\u00e7\u0131s\u0131ndan kritik \u00f6nemdeki &#8220;De\u011ferleme Raporlar\u0131&#8221;na istinaden iki dev i\u015ftirak al\u0131m\u0131na y\u00f6nlendirildi:<\/p>\n<ul>\n<li><b>Prive Sigorta A.\u015e.:<\/b> 10 Ekim 2025 tarihli de\u011ferleme raporuna istinaden, sermayenin %9&#8217;u 220.588.235 TL bedelle portf\u00f6ye eklendi.<\/li>\n<li><b>Tera Portf\u00f6y Y\u00f6netimi A.\u015e.:<\/b> 11 A\u011fustos 2025 tarihli de\u011ferleme raporuna dayanarak, %1&#8217;lik pay 106.530.000 TL bedelle iktisap edildi.<\/li>\n<\/ul>\n<p>Buradaki kritik nokta, bu al\u0131m bedellerinin de 31 Aral\u0131k 2025 sat\u0131n alma g\u00fcc\u00fcne g\u00f6re raporlanm\u0131\u015f olmas\u0131d\u0131r.<\/p>\n<h2>Finansal D\u00f6n\u00fc\u015f\u00fcm\u00fcn Analizi: Zarardan K\u00e2ra Ge\u00e7i\u015fin S\u0131rr\u0131<\/h2>\n<p>\u015eirketin 2024 y\u0131l\u0131ndaki 90,1 milyon TL\u2019lik net zarardan, 2025 y\u0131l\u0131nda 65,9 milyon TL\u2019lik net k\u00e2ra ge\u00e7mesi bir &#8220;muhasebe mucizesi&#8221; de\u011fil, stratejik bir finansal konumlanman\u0131n sonucudur. Bu k\u00e2rl\u0131l\u0131kta \u015fu kalemler ba\u015frol\u00fc oynam\u0131\u015ft\u0131r:<\/p>\n<ul>\n<li><b>Net Parasal Pozisyon Kazanc\u0131:<\/b> Enflasyonun bor\u00e7lu ve alacakl\u0131 pozisyonlar\u0131 \u00fczerindeki etkisiyle, 2024\u2019teki 90,8 milyon TL\u2019lik devasa parasal kay\u0131p, 2025\u2019te 1,8 milyon TL kazanca d\u00f6nm\u00fc\u015ft\u00fcr.<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetlerinden Gelirler:<\/b> Yeni finansal odakl\u0131 strateji meyvesini vermi\u015f ve yat\u0131r\u0131m kalemlerinden 116,6 milyon TL gelir kaydedilmi\u015ftir.<\/li>\n<li><b>Ertelenmi\u015f Vergi Varl\u0131\u011f\u0131:<\/b> K\u00e2rl\u0131l\u0131\u011f\u0131 dolayl\u0131 etkileyen bir unsur olarak, ertelenmi\u015f vergi varl\u0131\u011f\u0131n\u0131n 37,6 milyon TL\u2019den 27,1 milyon TL\u2019ye gerilemesi dikkat \u00e7ekicidir.<\/li>\n<\/ul>\n<h2>Gelecek Projeksiyonu ve Raporlama Disiplini<\/h2>\n<p>Tera Finansal Yat\u0131r\u0131mlar i\u00e7in yol haritas\u0131 netle\u015fmi\u015f durumda. \u015eirket, Aura Portf\u00f6y Y\u00f6netimi A.\u015e.\u2019nin %73,51\u2019ini devralmak \u00fczere 3 Ekim 2025\u2019te imzalanan Pay Al\u0131m Sat\u0131m S\u00f6zle\u015fmesi i\u00e7in SPK onay\u0131n\u0131 bekliyor.<\/p>\n<p>Bu devralma s\u00fcreci sadece bir b\u00fcy\u00fcme ad\u0131m\u0131 de\u011fil, ayn\u0131 zamanda TFRS 10 standard\u0131 uyar\u0131nca holdingin gelecekteki raporlama disiplinini de belirleyecek. Bu i\u015flem tamamland\u0131\u011f\u0131nda \u015firket, solo finansal tablo haz\u0131rlama y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc kal\u0131c\u0131 bir disipline d\u00f6n\u00fc\u015ft\u00fcrecek.<\/p>\n<p><b>D\u00fc\u015f\u00fcnmeye Sevk Edici Bir Soru:<\/b> Bir holdingin, sadece bir imza yetkilisi ve devasa bir finansal portf\u00f6y ile bu \u00f6l\u00e7ekte bir k\u00e2rl\u0131l\u0131\u011fa ula\u015fmas\u0131, &#8220;insan kayna\u011f\u0131&#8221; kavram\u0131n\u0131n gelecekte sadece stratejik bir onay mekanizmas\u0131na m\u0131 indirgenece\u011fi sorusunu ak\u0131llara getiriyor. Sizce de gelece\u011fin kurumsal devleri, operasyonsuz ama sermaye yo\u011fun bu &#8220;atomik&#8221; yap\u0131lar m\u0131 olacak?<\/p>\n<p>&nbsp;<\/p>\n<h1>Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e. 2025 Y\u0131l\u0131 Finansal ve Stratejik De\u011ferlendirme Raporu<\/h1>\n<p>Bu belge, Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e.&#8217;nin (\u015eirket) 31 Aral\u0131k 2025 tarihinde sona eren hesap d\u00f6nemine ait ba\u011f\u0131ms\u0131z denet\u00e7i raporu ve finansal tablolar\u0131ndan elde edilen kritik verileri ve stratejik i\u00e7g\u00f6r\u00fcleri sentezlemektedir.<\/p>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e., 2025 hesap d\u00f6neminde stratejik bir d\u00f6n\u00fc\u015f\u00fcm ve mali toparlanma s\u00fcreci ya\u015fam\u0131\u015ft\u0131r. Bir \u00f6nceki y\u0131l kaydedilen net zarar\u0131n ard\u0131ndan \u015eirket, 2025 y\u0131l\u0131n\u0131 \u00f6nemli bir k\u00e2rla kapatm\u0131\u015ft\u0131r. Bu performans\u0131n arkas\u0131ndaki temel itici g\u00fc\u00e7, i\u015ftirak sat\u0131\u015flar\u0131 ve yeni finansal yat\u0131r\u0131mlard\u0131r. \u015eirket, TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131n\u0131 uygulayarak finansal tablolar\u0131n\u0131 31 Aral\u0131k 2025 tarihindeki sat\u0131n alma g\u00fcc\u00fcne g\u00f6re yeniden d\u00fczenlemi\u015ftir. Ulusal Ba\u011f\u0131ms\u0131z Denetim ve YMM A.\u015e. taraf\u0131ndan y\u00fcr\u00fct\u00fclen denetim sonucunda, \u015eirket&#8217;in finansal durumunun ger\u00e7e\u011fe uygun sunuldu\u011funa dair <b>olumlu g\u00f6r\u00fc\u015f<\/b> bildirilmi\u015ftir.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>1. Ba\u011f\u0131ms\u0131z Denetim Sonu\u00e7lar\u0131 ve Kilit Denetim Konular\u0131<\/h2>\n<h3>Ba\u011f\u0131ms\u0131z Denet\u00e7i G\u00f6r\u00fc\u015f\u00fc<\/h3>\n<ul>\n<li><b>G\u00f6r\u00fc\u015f Tipi:<\/b> Olumlu (\u015eartl\u0131 olmayan) g\u00f6r\u00fc\u015f.<\/li>\n<li><b>Dayanak:<\/b> Finansal tablolar\u0131n T\u00fcrkiye Finansal Raporlama Standartlar\u0131na (TFRS) uygun olarak t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunuldu\u011fu belirtilmi\u015ftir.<\/li>\n<li><b>Sorumlu Denet\u00e7i:<\/b> Hakverdi Yarad\u0131lm\u0131\u015f.<\/li>\n<\/ul>\n<h3>Kilit Denetim Konusu: Enflasyon Muhasebesi (TMS 29)<\/h3>\n<p>T\u00fcrk Liras\u0131&#8217;n\u0131n 31 Aral\u0131k 2025 itibar\u0131yla y\u00fcksek enflasyonlu bir ekonomi para birimi olarak de\u011ferlendirilmesi nedeniyle \u015eirket, tarihinde ilk kez kapsaml\u0131 enflasyon d\u00fczeltmesi uygulam\u0131\u015ft\u0131r.<\/p>\n<ul>\n<li><b>Uygulama:<\/b> T\u00fcrkiye T\u00fcketici Fiyat Endeksi (T\u00dcFE) kullan\u0131larak ge\u00e7mi\u015f d\u00f6nem verileri ve cari d\u00f6nem kalemleri endekslenmi\u015ftir.<\/li>\n<li><b>Endeks Verileri:<\/b> 31.12.2023 endeksi 1.859,38 iken, 31.12.2025 itibar\u0131yla bu de\u011fer 3.513,87&#8217;ye ula\u015fm\u0131\u015ft\u0131r (D\u00fczeltme katsay\u0131s\u0131: 1,00000).<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>2. Finansal Durum Analizi (31 Aral\u0131k 2025)<\/h2>\n<p>\u015eirket&#8217;in varl\u0131k yap\u0131s\u0131nda ve \u00f6zkaynaklar\u0131nda \u00f6nceki y\u0131la oranla belirgin bir b\u00fcy\u00fcme g\u00f6zlemlenmi\u015ftir. T\u00fcm tutarlar 31 Aral\u0131k 2025 sat\u0131n alma g\u00fcc\u00fc cinsinden ifade edilmi\u015ftir.<\/p>\n<h3>Finansal Durum Kar\u015f\u0131la\u015ft\u0131rmas\u0131 (\u00d6zet Tablo)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31.12.2025 (TL)<\/td>\n<td>31.12.2024 (TL)<\/td>\n<td>De\u011fi\u015fim Oran\u0131<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td>380.716.173<\/td>\n<td>159.889.296<\/td>\n<td>%+138<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nen Varl\u0131klar<\/b><\/td>\n<td>14.250.752<\/td>\n<td>10.978.166<\/td>\n<td>%+30<\/td>\n<\/tr>\n<tr>\n<td><b>Duran Varl\u0131klar<\/b><\/td>\n<td>366.465.421<\/td>\n<td>148.911.130<\/td>\n<td>%+146<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>223.039.127<\/td>\n<td>67.789.458<\/td>\n<td>%+229<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam \u00d6zkaynaklar<\/b><\/td>\n<td>157.677.046<\/td>\n<td>92.099.838<\/td>\n<td>%+71<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131\/(Zarar\u0131)<\/b><\/td>\n<td>65.950.065<\/td>\n<td>(90.157.065)<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Varl\u0131k ve Kaynak Yap\u0131s\u0131ndaki \u00d6nemli De\u011fi\u015fimler<\/h3>\n<ul>\n<li><b>Yat\u0131r\u0131m Odakl\u0131 B\u00fcy\u00fcme:<\/b> Duran varl\u0131klardaki art\u0131\u015f\u0131n temel kayna\u011f\u0131, &#8220;\u0130\u015ftirakler, \u0130\u015f Ortakl\u0131klar\u0131 ve Ba\u011fl\u0131 Ortakl\u0131klardaki Yat\u0131r\u0131mlar&#8221; kalemidir (339,2 Milyon TL).<\/li>\n<li><b>Bor\u00e7 Yap\u0131s\u0131:<\/b> K\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fcklerdeki art\u0131\u015f dikkat \u00e7ekicidir. \u00d6zellikle &#8220;\u0130li\u015fkili Taraflara Di\u011fer Bor\u00e7lar&#8221; kalemi 220,3 Milyon TL ile toplam y\u00fck\u00fcml\u00fcl\u00fcklerin b\u00fcy\u00fck k\u0131sm\u0131n\u0131 olu\u015fturmaktad\u0131r.<\/li>\n<li><b>Sermaye Yap\u0131s\u0131:<\/b> \u015eirket&#8217;in \u00f6denmi\u015f sermayesi 30.000.000 TL d\u00fczeyinde sabit kal\u0131rken, sermaye d\u00fczeltme farklar\u0131 241,6 Milyon TL olarak finansal tabloda yer almaktad\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>3. Operasyonel Performans ve Gelir Analizi<\/h2>\n<p>\u015eirket&#8217;in operasyonel yap\u0131s\u0131, do\u011frudan ticari faaliyetlerden ziyade yat\u0131r\u0131m holding faaliyetlerine evrilmi\u015ftir.<\/p>\n<ul>\n<li><b>Has\u0131lat ve Br\u00fct K\u00e2r:<\/b> 2025 y\u0131l\u0131nda 45.802 TL has\u0131lat kaydedilmi\u015ftir.<\/li>\n<li><b>Esas Faaliyet Zarar\u0131:<\/b> Genel y\u00f6netim giderlerinin (14,1 Milyon TL) etkisiyle 14 Milyon TL esas faaliyet zarar\u0131 olu\u015fmu\u015ftur.<\/li>\n<li><b>Yat\u0131r\u0131m Faaliyetlerinden Gelirler:<\/b> D\u00f6nemin en kritik gelir kalemi olan <b>116.618.873 TL<\/b>, \u015eirket&#8217;i net k\u00e2ra ta\u015f\u0131yan ana unsurdur.<\/li>\n<li><b>Net Parasal Pozisyon Kazanc\u0131:<\/b> Enflasyon d\u00fczeltmesi sonucu 1,8 Milyon TL kazan\u00e7 elde edilmi\u015ftir (\u00d6nceki y\u0131l 90,8 Milyon TL kay\u0131p ya\u015fanm\u0131\u015ft\u0131).<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>4. Stratejik Yat\u0131r\u0131mlar ve Organizasyonel De\u011fi\u015fiklikler<\/h2>\n<h3>\u0130\u015ftirak Portf\u00f6y\u00fcndeki Hareketler<\/h3>\n<p>\u015eirket, 2025 y\u0131l\u0131nda portf\u00f6y\u00fcnde k\u00f6kl\u00fc de\u011fi\u015fiklikler yapm\u0131\u015ft\u0131r:<\/p>\n<ol>\n<li><b>Eros Tekstil Divestiti:<\/b> Eros Tekstil \u0130n\u015faat Sanayi ve Ticaret A.\u015e.&#8217;nin paylar\u0131n\u0131n tamam\u0131 sat\u0131lm\u0131\u015f ve \u015firket i\u015ftirak yap\u0131s\u0131ndan \u00e7\u0131km\u0131\u015ft\u0131r.<\/li>\n<li><b>Tera Portf\u00f6y Yat\u0131r\u0131m\u0131:<\/b> Tera Portf\u00f6y Y\u00f6netimi A.\u015e.&#8217;nin %1 sermaye pay\u0131 106,5 Milyon TL bedelle iktisap edilmi\u015ftir.<\/li>\n<li><b>Prive Sigorta Yat\u0131r\u0131m\u0131:<\/b> Prive Sigorta A.\u015e.&#8217;nin %9 sermaye pay\u0131 220,5 Milyon TL bedelle sat\u0131n al\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>Aura Portf\u00f6y Sat\u0131n Al\u0131m\u0131 (S\u00fcre\u00e7te):<\/b> Aura Portf\u00f6y Y\u00f6netimi A.\u015e.&#8217;nin %73,51 pay\u0131n\u0131n devral\u0131nmas\u0131 i\u00e7in 3 Ekim 2025&#8217;te s\u00f6zle\u015fme imzalanm\u0131\u015f, SPK onay\u0131 beklenmektedir.<\/li>\n<\/ol>\n<h3>Organizasyonel Durum<\/h3>\n<ul>\n<li><b>Unvan De\u011fi\u015fikli\u011fi:<\/b> \u015eirket unvan\u0131 &#8220;Dagi Yat\u0131r\u0131m Holding A.\u015e.&#8221;den &#8220;Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e.&#8221;ye d\u00f6n\u00fc\u015ft\u00fcr\u00fclm\u00fc\u015ft\u00fcr.<\/li>\n<li><b>\u0130stihdam:<\/b> \u015eirket&#8217;in \u00e7al\u0131\u015fan say\u0131s\u0131 31 Aral\u0131k 2024&#8217;te 249 ki\u015fi iken, 31 Aral\u0131k 2025 itibar\u0131yla <b>1 ki\u015fiye<\/b> d\u00fc\u015fm\u00fc\u015ft\u00fcr. Bu durum, operasyonel faaliyetlerin i\u015ftirak sat\u0131\u015f\u0131 sonras\u0131 holding merkezine \u00e7ekildi\u011fini g\u00f6stermektedir.<\/li>\n<li><b>Raporlama Esas\u0131:<\/b> Ba\u011fl\u0131 ortakl\u0131k sat\u0131\u015flar\u0131 sonras\u0131 TFRS 10 uyar\u0131nca konsolide tablolardan solo finansal tablo haz\u0131rlama s\u00fcrecine ge\u00e7ilmi\u015ftir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>5. \u00d6nemli Muhasebe Politikalar\u0131 ve \u0130lkeler<\/h2>\n<ul>\n<li><b>\u0130\u015fletmenin S\u00fcreklili\u011fi:<\/b> Finansal tablolar, \u015eirket&#8217;in \u00f6n\u00fcm\u00fczdeki bir y\u0131lda faaliyetlerini do\u011fal ak\u0131\u015f\u0131nda s\u00fcrd\u00fcrece\u011fi varsay\u0131m\u0131yla haz\u0131rlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Finansal Varl\u0131klar:<\/b> &#8220;\u0130tfa edilmi\u015f maliyet bedelinden muhasebele\u015ftirilen&#8221;, &#8220;ger\u00e7e\u011fe uygun de\u011fer fark\u0131 di\u011fer kapsaml\u0131 gelire yans\u0131t\u0131lan&#8221; ve &#8220;ger\u00e7e\u011fe uygun de\u011fer fark\u0131 k\u00e2r veya zarara yans\u0131t\u0131lan&#8221; olmak \u00fczere \u00fc\u00e7 s\u0131n\u0131fta takip edilmektedir.<\/li>\n<li><b>Nakit Ak\u0131\u015f Analizi:<\/b> \u0130\u015fletme faaliyetlerinden 361,1 Milyon TL net nakit ak\u0131\u015f\u0131 sa\u011flan\u0131rken, yat\u0131r\u0131m faaliyetleri i\u00e7in 339,3 Milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ger\u00e7ekle\u015fmi\u015ftir. D\u00f6nem sonu nakit mevcudu 405.471 TL&#8217;dir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>6. \u00d6nemli Al\u0131nt\u0131lar ve Notlar<\/h2>\n<p>&#8220;\u015eirket unvan\u0131n\u0131 d\u00f6nem i\u00e7inde Tera Finansal Yat\u0131r\u0131mlar Holding A.\u015e. olarak de\u011fi\u015ftirmi\u015ftir.&#8221;<\/p>\n<p>&#8220;31 Aral\u0131k 2025 tarihi itibar\u0131yla \u00e7al\u0131\u015fan say\u0131s\u0131 1 ki\u015fidir. (31 Aral\u0131k 2024: 249 ki\u015fi).&#8221;<\/p>\n<p>&#8220;G\u00f6r\u00fc\u015f\u00fcm\u00fcze g\u00f6re ili\u015fikteki finansal tablolar&#8230; \u015eirket&#8217;in 31 Aral\u0131k 2025 tarihi itibar\u0131yla finansal durumunu&#8230; TFRS&#8217;lere uygun olarak t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunmaktad\u0131r.&#8221;<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<p><i>Bu \u00f6zet belge, kaynak metinlerde yer alan verilere sad\u0131k kal\u0131narak olu\u015fturulmu\u015ftur.<\/i><\/p>\n<button class=\"simplefavorite-button\" data-postid=\"1473\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Tera Finansal Yat\u0131r\u0131mlar Holding 2025&#8217;te Finans Sekt\u00f6r\u00fcne Odakland\u0131: Zarardan K\u00e2ra G\u00fc\u00e7l\u00fc D\u00f6n\u00fc\u015f!<br \/>\nTera Finansal Yat\u0131r\u0131mlar Holding A.\u015e., 2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131n\u0131 a\u00e7\u0131klad\u0131. Y\u0131l\u0131 65,9 milyon TL net k\u00e2rla kapatarak \u00f6nceki d\u00f6nemin zararlar\u0131n\u0131 geride b\u0131rakan \u015firket, stratejik bir kabuk de\u011fi\u015fimi ya\u015f\u0131yor. Tekstil i\u015ftiraki Eros Tekstil\u2019i elden \u00e7\u0131karan ve unvan de\u011fi\u015fikli\u011fine giden holding; Tera Portf\u00f6y, Prive Sigorta ve Aura Portf\u00f6y yat\u0131r\u0131mlar\u0131yla rotas\u0131n\u0131 tamamen finansal hizmetlere k\u0131rd\u0131. Toplam varl\u0131klar\u0131n\u0131 380,7 milyon TL&#8217;ye y\u00fckselten \u015firketin yeni d\u00f6nem stratejileri ve enflasyon muhasebesi etkilerini i\u00e7eren detayl\u0131 rapor analizimiz yay\u0131nda!<br \/>\n#TeraHolding #FinansRaporu2025 #Borsa\u0130stanbul #Yat\u0131r\u0131m #EkonomiHaberleri<\/p>\n","protected":false},"author":11,"featured_media":972,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[275],"class_list":["post-1473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-trhol"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1473"}],"version-history":[{"count":3,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1473\/revisions"}],"predecessor-version":[{"id":1508,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1473\/revisions\/1508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/972"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=1473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}